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Cody Mitchell Katerina Koule Vasiliki Pantzia. History of oil crisis and oil wars.

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Presentation on theme: "Cody Mitchell Katerina Koule Vasiliki Pantzia. History of oil crisis and oil wars."— Presentation transcript:

1 Cody Mitchell Katerina Koule Vasiliki Pantzia

2 History of oil crisis and oil wars

3 OPEC – The leader of the oil market  “Organization of the Petroleum Exporting Countries”  79% of world crude oil reserves  44% of the world’s crude oil production

4 Oil crisis of 1973  Occurred by the OPEC’s embargo to USA, Japan and Western Europe.  Net loss of 4 million barrels/day  7.5% of the global output

5 Oil crisis of 1973 October $21.06 per barrel March $47.41 per barrel Annual change – 147%

6 Oil crisis of  Occurred due to the Gulf War (August 1990-February 1991)  32 nations led by the United States against Iraq.

7 Oil crisis of August $36 per barrel February $56.39 per barrel Annual change – 65%

8 Oil crisis 2003  Occurred due to the Iraq War.  March 2003 – invasion of USA and UK in Iraq

9 Oil crisis 2003 March 2003 – $40 per barrel July $136 per barrel

10 Extract from the History Chanel documentary “History of Oil”

11  Thank You


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